IndiaMART Q1: Profit Soars 35% YoY To INR 154 Cr

B2B ecommerce platform IndiaMART InterMESH’s consolidated net profit soared 35% to INR 153.5 Cr in the first quarter of FY26 from INR 114 Cr in the year-ago quarter. However, on a sequential basis, profit dipped 15% from INR 180.6 Cr.

The company’s top line witnessed an uptick on a YoY as well as QoQ basis. IndiaMART’s operating revenue stood at INR 372.1 Cr in Q1 FY26, marking a near 12% increase from INR 331.3 Cr in the same quarter previous quarter. Sequentially, it grew 5% from INR 355.1 Cr in the previous quarter.

Collections from customers grew to INR 374 Cr during the quarter, representing a YoY growth of 10%. Deferred revenue for the quarter increased to INR 1,628 Cr, surging 15% YoY.

Notably, the company’s tax expense grew to INR 50.4 Cr during the quarter under review as against INR 37.4 Cr in the June quarter of 2024 and INR 37.5 in the March quarter of 2025.

Including other income of INR 92.4 Cr, the company’s total revenue stood at INR 464.5 Cr in Q1 FY26. Total expenses surged to INR 246.5 Cr in the quarter, up 5% QoQ and 11% YoY.

The company’s EBITDA for the quarter grew 12% YoY to INR 134 Cr, while the EBITDA margin stood at 36%.

IndiaMART claims to be India’s largest online B2B marketplace, which connects 84 Lakh suppliers with buyers. It acts as a platform for businesses to find each other, facilitating trade across various industries. Total product listings jumped 10% YoY at 12.1 Cr.

While the company’s ecommerce platform has been its bread-and-butter business for nearly two decades, it also earns revenue from accounting software services. During the quarter, it earned INR 25.8 Cr from the accounting software services business, a jump of 64% YoY and 31% QoQ.

The company’s software services arm, Busy, net billing also surged 64% YoY to INR 53 Cr while its net profit stood at INR 6 cr.

On the ecommerce front, the company registered unique business enquiries of 2.9 Cr in Q1 FY26, up 17% YoY. In this, supplier storefronts grew 6% YoY to 84 Lakh. Meanwhile, paying suppliers at the end of the quarter stood at 2.2 Lakh, representing net addition of 1.5K. Annualised revenue per paying supplier was INR 64K, up 6% YoY.

Active buyers on the platform stood at 4.3 Cr, with 58% being repeat purchasers. However, business enquiries delivered by the platform dipped 24% YoY to 9.7 Cr.

“Our focus remains on strengthening the platform, enhancing user experience for both buyers and suppliers, and improving our offerings in line with the evolving needs of businesses. Backed by a robust business model and growing digital adoption, we are confident in our ability to drive sustained, long term profitable growth while delivering greater value to all stakeholders,” IndiaMART CEO Dinesh Agarwal said.

Shares of IndiaMART ended today’s trading session 0.95% higher at INR 2,653.40 on the BSE.

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